%UXJVDQYLVQಣ %UXNVDQYLVQಣ 8VHU 0DQXDO LQJ LQJ .ºOHVNDE 6 / ' ( 5HIULJHUDWRU .
&217(176 6DIHW\ LQIRUPDWLRQ 6DIHW\ LQVWUXFWLRQV ,QVWDOODWLRQ &RQWURO 3DQHO 'DLO\ XVH +LQWV DQG WLSV &DUH DQG FOHDQLQJ 7URXEOHVKRRWLQJ 1RLVHV 7HFKQLFDO GDWD ,QIRUPDWLRQ IRU WHVW LQVWLWXWHV &86720(5 &$5( $1' 6(59,&( $OZD\V XVH RULJLQDO VSDUH SDUWV :KHQ FRQWDFWLQJ RXU $XWKRULVHG 6HUYLFH &HQWUH HQVXUH WKDW \RX KDYH WKH IROORZLQJ GDWD DYDLODEOH 0RGHO 6HULDO 1XPEHU 7KH LQIRUPDWLRQ FDQ EH IRXQG RQ WKH UDWLQJ SODWH :DUQLQJ &DXWLRQ 6DIHW\ LQIRUPDWLRQ *HQHUDO LQIRUPD
ವ ವ ವ ವ ವ ವ &KLOGUHQ DJHG IURP WR \HDUV DUH DOORZHG WR ORDG DQG XQORDG WKH DSSOLDQFH SURYLGHG WKDW WKH\ KDYH EHHQ SURSHUO\ LQVWUXFWHG 7KLV DSSOLDQFH PD\ EH XVHG E\ SHUVRQV ZLWK YHU\ H[WHQVLYH DQG FRPSOH[ GLVDELOLWLHV SURYLGHG WKDW WKH\ KDYH EHHQ SURSHUO\ LQVWUXFWHG &KLOGUHQ RI OHVV WKDQ \HDUV RI DJH VKRXOG EH NHSW DZD\ IURP WKH DSSOLDQFH XQOHVV FRQWLQXRXVO\ VXSHUYLVHG 'R QRW OHW FKLOGUHQ SOD\ ZLWK WKH DSSOLDQFH &KLOGUHQ VKDOO QRW FDUU\ RXW FOHDQLQJ DQG XVHU PDLQWHQDQFH RI WKH DSSOLDQFH ZLWK
ವ ವ ವ ವ ವ ವ :$51,1* 'R QRW XVH HOHFWULFDO DSSOLDQFHV LQVLGH WKH IRRG VWRUDJH FRPSDUWPHQWV RI WKH DSSOLDQFH XQOHVV WKH\ DUH RI WKH W\SH UHFRPPHQGHG E\ WKH PDQXIDFWXUHU 'R QRW XVH ZDWHU VSUD\ DQG VWHDP WR FOHDQ WKH DSSOLDQFH &OHDQ WKH DSSOLDQFH ZLWK D PRLVW VRIW FORWK 2QO\ XVH QHXWUDO GHWHUJHQWV 'R QRW XVH DEUDVLYH SURGXFWV DEUDVLYH FOHDQLQJ SDGV VROYHQWV RU PHWDO REMHFWV :KHQ WKH DSSOLDQFH LV HPSW\ IRU ORQJ SHULRG VZLWFK LW RII GHIURVW FOHDQ GU\ DQG OHDYH WKH GRRU RSHQ WR SUHYHQW PRXOG I
ವ 7KH DSSOLDQFH PXVW EH HDUWKHG ವ 0DNH VXUH WKDW WKH SDUDPHWHUV RQ WKH UDWLQJ SODWH DUH FRPSDWLEOH ZLWK WKH HOHFWULFDO UDWLQJV RI WKH PDLQV SRZHU VXSSO\ ವ $OZD\V XVH D FRUUHFWO\ LQVWDOOHG VKRFNSURRI VRFNHW ವ 0DNH VXUH QRW WR FDXVH GDPDJH WR WKH HOHFWULFDO FRPSRQHQWV H J PDLQV SOXJ PDLQV FDEOH FRPSUHVVRU &RQWDFW WKH $XWKRULVHG 6HUYLFH &HQWUH RU DQ HOHFWULFLDQ WR FKDQJH WKH HOHFWULFDO FRPSRQHQWV ವ 7KH PDLQV FDEOH PXVW VWD\ EHORZ WKH OHYHO RI WKH PDLQV SOXJ ವ &RQQHFW WKH PDLQV SOXJ WR WKH PDLQV
WHPSHUDWXUH VHQVRUV SULQWHG FLUFXLW ERDUGV OLJKW VRXUFHV GRRU KDQGOHV GRRU KLQJHV WUD\V DQG EDVNHWV 3OHDVH QRWH WKDW VRPH RI WKHVH VSDUH SDUWV DUH RQO\ DYDLODEOH WR SURIHVVLRQDO UHSDLUHUV DQG WKDW QRW DOO VSDUH SDUWV DUH UHOHYDQW IRU DOO PRGHOV ವ 'RRU JDVNHWV ZLOO EH DYDLODEOH IRU \HDUV DIWHU WKH PRGHO KDV EHHQ GLVFRQWLQXHG 'LVSRVDO :$51,1* 5LVN RI LQMXU\ RU VXIIRFDWLRQ ವ &XW RII WKH PDLQV FDEOH DQG GLVFDUG LW ವ 5HPRYH WKH GRRU WR SUHYHQW FKLOGUHQ DQG SHWV WR EH FORVHG LQVLGH RI WKH DSS
D3 D1 'LPHQVLRQV D2 W1 W3 A B H1 W2 2YHUDOO GLPHQVLRQV { 6SDFH UHTXLUHG LQ XVH t + PP ' PP : PP $ PP ' PP % PP { WKH KHLJKW ZLGWK DQG GHSWK RI WKH DSSOLDQFH ZLWKRXW WKH KDQGOH DQG IHHW 6SDFH UHTXLUHG LQ XVH t + $ % PP : PP t WKH KHLJKW ZLGWK DQG GHSWK RI WKH DSSOLDQFH LQFOXGLQJ WKH KDQGOH SOXV WKH VSDFH QHFHVVDU\ IRU IUHH FLUFXODWLRQ RI WKH FRROLQJ DLU
2YHUDOO VSDFH UHTXLUHG LQ XVH u + $ % PP : PP ' PP u WKH KHLJKW ZLGWK DQG GHSWK RI WKH DSSOLDQFH LQFOXGLQJ WKH KDQGOH SOXV WKH VSDFH QHFHVVDU\ IRU IUHH FLUFXODWLRQ RI WKH FRROLQJ DLU SOXV WKH VSDFH QHFHVVDU\ WR DOORZ GRRU RSHQLQJ WR WKH PLQLPXP DQJOH SHUPLWWLQJ UHPRYDO RI DOO LQWHUQDO HTXLSPHQW /RFDWLRQ 7R HQVXUH DSSOLDQFH V EHVW IXQFWLRQDOLW\ \RX VKRXOG QRW LQVWDOO WKH DSSOLDQFH LQ WKH QHDUE\ RI WKH KHDW VRXUFH RYHQ VWRYHV UDGLDWRUV FRRNHUV RU KREV RU LQ D SODFH ZLW
&21752/ 3$1(/ 1 6 5 'LVSOD\ 7HPSHUDWXUH ZDUPHU EXWWRQ 7HPSHUDWXUH FROGHU EXWWRQ 2. ,W LV SRVVLEOH WR FKDQJH SUHGHILQHG VRXQG RI EXWWRQV E\ SUHVVLQJ WRJHWKHU 0RGH DQG 4 3 2 0RGH 21 2)) WHPSHUDWXUH FROGHU EXWWRQ IRU D IHZ VHFRQGV &KDQJH LV UHYHUVLEOH 'LVSOD\ A B C D Off min H G F E $ % & ' ( ) * + 7LPHU LQGLFDWRU 6KRSSLQJ IXQFWLRQ +ROLGD\ PRGH 7HPSHUDWXUH LQGLFDWRU $ODUP LQGLFDWRU &KLOG/RFN IXQFWLRQ 'ULQNV&KLOO IXQFWLRQ )DQ IXQFWLRQ 6ZLWFKLQJ RQ 7HPSHUDWXUH UHJXOD
6KRSSLQJ IXQFWLRQ ,I \RX QHHG WR LQVHUW LQ WKH IULGJH FRPSDUWPHQW D ODUJH DPRXQW RI ZDUP IRRG IRU H[DPSOH DIWHU GRLQJ WKH JURFHU\ VKRSSLQJ ZH VXJJHVW DFWLYDWLQJ WKH 6KRSSLQJ IXQFWLRQ WR FKLOO WKH SURGXFWV PRUH UDSLGO\ DQG WR DYRLG ZDUPLQJ WKH RWKHU IRRG ZKLFK LV DOUHDG\ LQ WKH UHIULJHUDWRU 3UHVV WKH 0RGH XQWLO WKH FRUUHVSRQGLQJ LFRQ DSSHDUV 7KH 6KRSSLQJ LQGLFDWRU IODVKHV 3UHVV WKH 2. WR FRQILUP 7KH 6KRSSLQJ LQGLFDWRU LV VKRZQ 7KH IDQ DFWLYDWHV DXWRPDWLFDOO\ IRU WKH IXQFWLRQ GXUDWLRQ 7KLV I
$W WKH HQG RI WKH FRXQWGRZQ WKH PLQ LQGLFDWRU IODVKHV DQG DQ DXGLEOH DODUP VRXQGV 3UHVV 2. WR VZLWFK RII WKH VRXQG DQG WHUPLQDWH WKH IXQFWLRQ 7R VZLWFK RII WKH IXQFWLRQ UHSHDW WKH SURFHGXUH XQWLO WKH 'ULQNV&KLOO JRHV RII ,W LV SRVVLEOH WR FKDQJH WKH WLPH DW DQ\ WLPH GXULQJ WKH FRXQWGRZQ DQG DW WKH HQG E\ SUHVVLQJ WKH 7HPSHUDWXUH FROGHU EXWWRQ DQG WKH 7HPSHUDWXUH ZDUPHU EXWWRQ 'RRU RSHQ DODUP ,I WKH IULGJH GRRU LV OHIW RSHQ IRU DSSUR[LPDWHO\ PLQXWHV WKH VRXQG LV RQ DQG DODUP LQGLFDWRU IODVKHV
7LOW WKH PRGXOH GRZQZDUGV WR UHPRYH LW IURP WKH UHIULJHUDWRU 7R UHDVVHPEOH 3XOO RXW WKH UDLOV 9HJHWDEOH GUDZHU 7KH GUDZHU LV VXLWDEOH IRU VWRULQJ IUXLW DQG YHJHWDEOHV 7R UHPRYH WKH GUDZHU H J IRU FOHDQLQJ 3XOO RXW WKH GUDZHU DQG OLIW LW XS 3ODFH WKH UHDU SDUW RI WKH GUDZHU RQ WKH UDLOV 2 1 3XVK WKH UDLOV LQVLGH WKH FDELQHW WR DYRLG GDPDJH WR WKH DSSOLDQFH ZKHQ FORVLQJ WKH GRRU .
,I LW LV VWLOO QRW 2. % DGMXVW WKH VHWWLQJ FRQWURO WR D FROGHU VHWWLQJ A OK B OK )DQ 7KH UHIULJHUDWRU FRPSDUWPHQW LV HTXLSSHG ZLWK D GHYLFH WKDW DOORZV UDSLG FRROLQJ RI IRRGV DQG NHHSV PRUH XQLIRUP WHPSHUDWXUH LQ WKH FRPSDUWPHQW ,W LV DOVR SRVVLEOH WR VZLWFK RQ WKH GHYLFH PDQXDOO\ ZKHQ QHHGHG UHIHU WR )DQ IXQFWLRQ 7KH IDQ RSHUDWHV RQO\ ZKHQ WKH GRRU LV FORVHG 7KLV GHYLFH DFWLYDWHV DXWRPDWLFDOO\ ZKHQ QHHGHG +,176 $1' 7,36 +LQWV IRU HQHUJ\ VDYLQJ ವ 0RVW HIILFLHQW XVH RI HQHUJ\ LV HQVXUH
ವ )UXLW DQG YHJHWDEOHV FOHDQ WKRURXJKO\ HOLPLQDWH WKH VRLO DQG SODFH LQ D VSHFLDO GUDZHU YHJHWDEOH GUDZHU ವ ,W LV DGYLVDEOH QRW WR NHHS WKH H[RWLF IUXLWV OLNH EDQDQDV PDQJRV SDSD\DV HWF LQ WKH UHIULJHUDWRU ವ 9HJHWDEOHV OLNH WRPDWRHV SRWDWRHV RQLRQV DQG JDUOLF VKRXOG QRW EH NHSW LQ WKH UHIULJHUDWRU ವ %XWWHU DQG FKHHVH SODFH LQ DQ DLUWLJKW FRQWDLQHU RU ZUDS LQ DQ DOXPLQLXP IRLO RU D SRO\WKHQH EDJ WR H[FOXGH DV PXFK DLU DV SRVVLEOH ವ %RWWOHV FORVH WKHP ZLWK D FDS DQG SODFH WKHP RQ WKH GRRU
&OHDQ WKH DSSOLDQFH DQG DOO DFFHVVRULHV /HDYH WKH GRRU RSHQ WR SUHYHQW XQSOHDVDQW VPHOOV 7528%/(6+227,1* :$51,1* 5HIHU WR 6DIHW\ FKDSWHUV :KDW WR GR LI 3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 7KH DSSOLDQFH GRHV QRW RSಣ HUDWH 7KH DSSOLDQFH LV VZLWFKHG RII 6ZLWFK RQ WKH DSSOLDQFH 7KH PDLQV SOXJ LV QRW FRQಣ QHFWHG WR WKH PDLQV VRFNHW FRUUHFWO\ &RQQHFW WKH PDLQV SOXJ WR WKH PDLQV VRFNHW FRUUHFWO\ 7KHUH LV QR YROWDJH LQ WKH PDLQV VRFNHW &RQQHFW D GLIIHUHQW HOHFWULFDO DSSOLDQFH WR
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 7KH 6KRSSLQJ IXQFWLRQ LV VZLWFKHG RQ 5HIHU WR 6KRSSLQJ IXQFWLRQ VHFWLRQ 7KH FRPSUHVVRU GRHV QRW VWDUW LPPHGLDWHO\ DIWHU SUHVVLQJ WKH 6KRSSLQJ RU DIWHU FKDQJLQJ WKH WHPSHUDಣ WXUH 7KH FRPSUHVVRU VWDUWV DIWHU D SHULRG RI WLPH 7KLV LV QRUPDO QR HUURU KDV RFFXUUHG 'RRU LV PLVDOLJQHG RU LQWHUಣ IHUHV ZLWK YHQWLODWLRQ JULOO 7KH DSSOLDQFH LV QRW OHYHOಣ OHG 5HIHU WR LQVWDOODWLRQ LQVWUXFಣ WLRQV 'RRU GRHV QRW RSHQ HDVLO\
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 6WRUHG IRRG ZDV QRW ZUDSಣ SHG :UDS IRRG LQ VXLWDEOH SDFNಣ DJLQJ EHIRUH VWRULQJ LW LQ WKH DSSOLDQFH :DWHU IORZV LQVLGH WKH UHIULJಣ HUDWRU )RRG SURGXFWV SUHYHQW WKH ZDWHU IURP IORZLQJ LQWR WKH ZDWHU FROOHFWRU 0DNH VXUH WKDW IRRG SURGಣ XFWV GR QRW WRXFK WKH UHDU SODWH 7KH ZDWHU RXWOHW LV FORJJHG &OHDQ WKH ZDWHU RXWOHW :DWHU IORZV RQ WKH IORRU 7KH PHOWLQJ ZDWHU RXWOHW LV QRW FRQQHFWHG WR WKH HYDSRಣ UDWLYH WUD\ DERYH WKH FRPಣ SUHVVRU $WWDFK WKH PHOWL
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ $ RU RU V\PERO LV VKRZQ LQVWHDG RI QXPEHUV RQ WKH WHPSHUDWXUH GLVSOD\ 7HPSHUDWXUH VHQVRU SUREಣ OHP &RQWDFW WKH QHDUHVW $XWKRUಣ L]HG 6HUYLFH &HQWUH WKH FRROLQJ V\VWHP ZLOO FRQWLQXH WR NHHS IRRG SURGXFWV FROG EXW WHPSHUDWXUH DGMXVWPHQW ZLOO QRW EH SRVVLEOH ,I WKH DGYLFH GRHV QRW OHDG WR WKH GHVLUHG UHVXOW FDOO WKH QHDUHVW $XWKRUL]HG 6HUYLFH &HQWUH 5HSODFLQJ WKH ODPS 7KH DSSOLDQFH LV HTXLSSHG ZLWK D ORQJOLIH /(' LQWHULRU OLJKW &ORVLQJ WKH GRRU &OHDQ
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